The past week has proven to be highly bullish for the controversial Bitcoin hard fork Bitcoin Cash (BCH). This cryptocurrency was able to post a meteoric surge just a few days ago in tandem with the upswing incurred by the altcoin markets, and it appears to be on the cusp of forming another massive leg up.<\/p>\n
Analysts are now noting that BCH\u2019s recent uptrend could soon turn parabolic as its technical and fundamental confluence continues to grow increasingly bullish.<\/p>\n
At the time of writing, Bitcoin Cash<\/a> is trading up nominally at its current price<\/a> of $267, which marks a notable climb from its daily lows of $262 and only a slight decline from its daily highs of $269.<\/p>\n Earlier this past week, BCH was able to post a massive surge that allowed it to climb from lows of $230 to highs of just over $270. This massive rally came about concurrently with upswings seen by most major altcoins, with the two most prominent Bitcoin hard forks \u2013 Bitcoin Cash and Bitcoin SV \u2013 both leading the markets.<\/p>\n BCH\u2019s ability to maintain stability around its recent rally\u2019s peak<\/a> points to underlying strength amongst the crypto\u2019s buyers and may suggest that it will soon see significantly further upside.<\/p>\n Technical analysis seems to further support this notion, as Big Cheds, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that the crypto is currently caught within a bull flag consolidation pattern, signaling that it could be on the verge of another breakout.<\/p>\n \u201c$BCH #BitcoinCash – Daily chart – Bull flag consolidation while testing MA 200,\u201d he explained while pointing to the charts seen below.<\/p><\/blockquote>\n $BCH<\/a> #BitcoinCash<\/a> – Daily chart – Bull flag consolidation while testing MA 200 pic.twitter.com\/Aky8SHLFMX<\/a><\/p>\n — Cheds (Trading Quotes) (@BigCheds) January 13, 2020<\/a><\/p><\/blockquote>\n\n